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Embattled liquor tycoon Vijay Mallya, who is undergoing an extradition trial in a UK court over Rs 9,000-crore fraud and money laundering charges, will be dealing with a parallel litigation around an estimated USD 1.5 billion worldwide freeze order on his assets well into 2018.

The Crown Prosecution Service arguing on behalf of the Indian government countered that assertion, indicating that the reason such a repayment offer would have been rejected was that the banks knew Mallya had the means to pay back the entire amount due

Vijay Mallya's defence today dismissed as "zero" the Indian government's extradition case against him, saying it has no credible case to show that the tycoon's now-defunct Kingfisher Airline's borrowings were fraudulent or that he had no intention to pay back the loans.

Mark Summers, a British lawyer acting for India, told the court at the start of a two-week extradition hearing that it was entitled to conclude that he never intended to repay money borrowed by Kingfisher from IDBI in 2009

Embattled liquor baron Vijay Mallya, out on a 650,000-pound bail bond following his arrest by Scotland Yard over fraud and money laundering charges earlier this year, will return to Westminster Magistrates' Court in London tomorrow as his extradition trial begins.

India had asked Britain to extradite Mallya to face trial after the liquor and aviation tycoon fled there last March after banks sued to recover about $1.4 billion that Indian authorities say Kingfisher owes